Magnit

Board/Management Information • Nov 22, 2017

MAGNIT PJSC (MGNT)

22-Nov-2017 / 07:34 CET/CEST

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Press Release Krasnodar November 22, 2017

PJSC"Magnit" Announces the Holding of the BOD Meeting

Krasnodar, November 22, 2017: Magnit PJSC, one of Russia's leading retailers (the "Company", MOEX and LSE: MGNT), is pleased to announcethe holding ofthe Board of Directors meeting.

OnNovember 21, 2017, the Chairman of the Board of Directors made the decision to hold the BOD meeting on November 22, 2017 with the following agenda:

• 1. Determination of the position of the PJSC "Magnit"representative at the exercise of the voting right on the JSC "Tander"shares in the charter capital owned by the Company
• 1. On changing thetermsand conditions ofthecontractmade with the person exercising the powers ofthesoleexecutive body ofPJSC "Magnit".

Forfurtherinformation, please contact:

Timothy Post	Head ofInvestor Relations Email: post@magnit.ru Office:+7-861-277-4554 x 17600
Dina Svishcheva	DeputyDirector, Investor Relations Email:Chistyak@magnit.ru Office:+7-861-277-4554 x 15101
MediaInquiries	Media Relations Department press@magnit.ru

Company description:

Public Joint Stock Company "Magnit"is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city ofKrasnodar. As of September 30, 2017, Magnit operated 36 distribution centers and 15,697 stores (11,743 convenience, 432 hypermarkets and 3,522 drogeriestores) in 2,664 citiesand towns throughout 7 federalregions ofthe Russian Federation.

In accordance with the reviewed IFRS consolidated financialstatements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDAof RUB 49 billion. Magnit's localshares are traded on the Moscow Exchange (MOEX:MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.

ISIN: US55953Q2021 Category Code: MSCU TIDM: MGNT LEICode: 2534009KKPTVL99W2Y12 OAM Categories:3.1.Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 4901